Inpex Purchases Stake in Ichthys LNG Project from JERA

Inpex, Japan's largest oil and gas explorer, has exercised its pre-emptive rights to purchase a 0.735% stake in the Ichthys liquefied natural gas project from JERA. This move blocks a deal that was previously agreed upon with MidOcean Energy.

The Ichthys project, which began production in 2018, produces LNG, condensate, and liquefied petroleum gas from offshore western Australia, with an annual capacity of 9.3 million metric tons.

Inpex stated that the acquisition aligns with its long-term strategy to expand upstream gas assets and will enhance energy security in Japan and the Asia-Pacific region.